US billionaires to mine asteroid resources

Planetary Resources company, backed by director James Cameron, to hunt for fuel and precious minerals.

25 Apr 2012 05:35 GMT

A group of US billionaires - including director James Cameron and the co-founders of internet search company Google - have announced plans to mine asteroids in space for resources such as ice, fuel and precious minerals.

The new firm, Planetary Resources, plans to launch a telescope capable of tracking asteroids - left over from the Big Bang - as they pass-by the Earth in hopes of finding resources for further human endeavours in space.

Al Jazeera's John Terrett reports from the US Air and Space Museum in Washington.